Germany's DIHK chamber of commerce expects growth of 2.4 percent in 2011 and that would be twice the average rate of the last 15 years, its president Hans Heinrich Driftmann said in an interview with Reuters. "I assume we'll have growth in 2011 of 2.4 percent," Driftmann said. "The recovery is self-sustaining especially as companies are investing considerably in Germany again."
He said that would benefit the labour market and fuel growth in consumer spending. "Our companies have fought their way out of the crisis better than we all dared to hope," he said. "In 2011 we should be back to the pre-crisis level and the unemployment level of under 3 million will be lower than at any time since reunion."
The government expects gross domestic product to slow from 3.4 percent in 2010 to 1.8 percent in 2011 after contracting 4.7 percent in 2009. Economy Minister Rainer Bruederle, who is expected to revise the government's 2011 growth forecast upwards in mid-January, has said repeatedly that he is also expecting growth in 2011 to be a minimum of the current forecast. "I wouldn't be surprised if the number is better," Bruederle said.
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